The bull market turned 4 on October 12, 2026, and Julie Hyman, Jake Conley and Pras Subramanian look at how far it has run, from about $30 trillion to $70 trillion in market cap, who has led it and whether earnings season can broaden it out. Plus a preview of bank earnings, Salesforce and Adobe moving in opposite directions on analyst calls over AI, Adobe’s CEO transition, and why “The Social Reckoning” opened to just $5.5 million. Also: Trump’s energy ceasefire with Russia, Houthi strikes on Riyadh, CPI week, Microsoft’s Maia 300 chip, Amazon’s deal with Decart, IREN’s reported Anthropic cloud deal and Starbucks saying it’s not buying Chipotle.
Watch The 8:30 live weekdays 8:30-9:30am ET.
00:00 Columbus Day: Stocks open, bond market closed
00:25 The bull market turns 4
01:38 What it takes to end a bull market
02:15 Are we halfway through?
02:51 Market cap from $30 trillion to $70 trillion
03:11 How concentrated is the AI trade?
04:07 Can earnings broaden the rally?
04:24 The bull market’s best performers
05:48 The bull market’s worst performers
06:58 Sector gains
07:18 Earnings season, the Iran war and yields
09:11 Bank earnings preview
13:36 Salesforce and Adobe move in opposite directions
17:30 Adobe’s CEO transition
18:09 The AI slop backlash
19:28 Adobe’s pricing
20:24 “The Social Reckoning” opens to $5.5 million
22:27 Too much tech content?
29:57 Trump’s energy ceasefire and Russian diesel
32:11 Trump calls for a new Ukrainian president
33:54 Russian bots
35:09 Houthi strikes on Riyadh airports
36:23 The Iran link and the Bab el-Mandeb
38:36 CPI this week
39:43 Microsoft’s Maia 300 chip
44:53 Amazon’s deal with Decart
48:07 IREN rises on a reported Anthropic cloud deal
49:21 Gavin Baker on $1 trillion in unfunded commitments
50:39 Starbucks: “We are not buying Chipotle”
52:01 Portmanteau time
#StockMarket #BullMarket #BankEarnings #Starbucks #YahooFinance
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